Gazpromneft: Major funds for NIS

Gazpromneft CEO Aleksandar Dyukov says that 25 to 40 percent of the planned EUR 547mn investment in the Serbian Oil Industry (NIS) will be injected this year.

Izvor: B92

Wednesday, 11.02.2009.

10:34

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Gazpromneft CEO Aleksandar Dyukov says that 25 to 40 percent of the planned EUR 547mn investment in the Serbian Oil Industry (NIS) will be injected this year. Yesterday, four members of the NIS board of directors were elected to represent Serbia, while the other five members will be elected in the coming days. Dyukov said that more than EUR 500mn would invested in the reconstruction and modernization of NIS by 2012—even more if necessary, for Serbian refineries to produce fuel of European quality. Gazpromneft: Major funds for NIS “We will be able to give the exact level of this year’s investment in two to three months. According to our estimates, in 2009, some 25 to 40 percent of the total planned investment can be expected,” he explained. Energy Minister Petar Skundric said that a tender was due to be called for the purchase of new equipment for NIS in about a month’s time. He said that the formation of the new board had created the conditions to begin modernizing production. “It is very important for us that we have made this arrangement with Gazpromneft because we believe it’s one of the first steps for meeting our strategic goals of NIS becoming a leader in the South-East European oil industry,” Skundric said. The newly elected chairman of the board of directors is Dmitry Malishev, a former adviser to the Gazpromneft managing director, while the new NIS CEO is Kiril Kravchenko, the vice president of Gazpromneft. Serbia will be represented on the new-look NIS board by Dusan Petrovic of the Democratic Party, Vojvodina Democrats leader Dusan Elezovic, former Chairman of the Board of Directors prior to the Russian deal Biserka Jevtimijevic-Drinjakovic, also from the Democratic Party, and Socialist Party of Serbia official Nikola Martinovic.

Gazpromneft: Major funds for NIS

“We will be able to give the exact level of this year’s investment in two to three months. According to our estimates, in 2009, some 25 to 40 percent of the total planned investment can be expected,” he explained.

Energy Minister Petar Škundrić said that a tender was due to be called for the purchase of new equipment for NIS in about a month’s time.

He said that the formation of the new board had created the conditions to begin modernizing production.

“It is very important for us that we have made this arrangement with Gazpromneft because we believe it’s one of the first steps for meeting our strategic goals of NIS becoming a leader in the South-East European oil industry,” Škundrić said.

The newly elected chairman of the board of directors is Dmitry Malishev, a former adviser to the Gazpromneft managing director, while the new NIS CEO is Kiril Kravchenko, the vice president of Gazpromneft.

Serbia will be represented on the new-look NIS board by Dušan Petrović of the Democratic Party, Vojvodina Democrats leader Dušan Elezović, former Chairman of the Board of Directors prior to the Russian deal Biserka Jevtimijević-Drinjaković, also from the Democratic Party, and Socialist Party of Serbia official Nikola Martinović.

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